Sugar sector stares at sweet 2019: 5 stocks surge over 40% this year
Updated : May 31, 2019 03:42 PM IST
Sugar stocks have been rallying this year and could further continue its momentum as Indian Sugar Mills Association indicated that sugar production could rise 1.5 percent to a record 33 million tonnes.
5 sugar stocks that rose more than 40 percent this year include Avadh Sugar, DCM Shriram, Triveni Engineering, Balrampur Chini Mills and Uttam Sugar.
ICRA said, “Domestic sugar consumption is likely to increase by 2-3 percent to around 25.8 million metric tonne (MT) this year and the production would be higher by at least 6.5-7.0 million MT.”